Neptune Insurance (NYSE:NP) Stock Price Down 7.8% – Here’s Why

Shares of Neptune Insurance Holdings Inc. (NYSE:NP) dropped 7.8% on Wednesday . The company traded as low as $26.44 and last traded at $26.3050. Approximately 164,078 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 398,984 shares. The stock had previously closed at $28.54.

Wall Street Analyst Weigh In

Several equities analysts have commented on NP shares. Piper Sandler lowered their price target on Neptune Insurance from $33.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Keefe, Bruyette & Woods raised their target price on shares of Neptune Insurance from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Raymond James Financial reiterated an “outperform” rating on shares of Neptune Insurance in a report on Monday, April 27th. Evercore restated an “outperform” rating on shares of Neptune Insurance in a report on Friday, May 8th. Finally, Mizuho lifted their price objective on Neptune Insurance from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Neptune Insurance has an average rating of “Moderate Buy” and a consensus target price of $27.42.

Neptune Insurance Stock Up 1.4%

The stock’s 50-day moving average price is $24.74 and its 200 day moving average price is $24.97. The firm has a market cap of $3.85 billion and a price-to-earnings ratio of 103.13.

Neptune Insurance (NYSE:NP) last released its earnings results on Wednesday, April 22nd. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $37.80 million for the quarter, compared to analyst estimates of $36.96 million. Neptune Insurance’s revenue was up 28.8% compared to the same quarter last year. On average, research analysts predict that Neptune Insurance Holdings Inc. will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other Neptune Insurance news, CEO Trevor R. Burgess purchased 50,000 shares of the stock in a transaction on Friday, March 13th. The shares were purchased at an average price of $18.71 per share, with a total value of $935,500.00. Following the acquisition, the chief executive officer directly owned 2,082,964 shares of the company’s stock, valued at $38,972,256.44. This represents a 2.46% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Warren Vostrizansky acquired 23,000 shares of Neptune Insurance stock in a transaction dated Friday, February 20th. The shares were acquired at an average cost of $21.50 per share, with a total value of $494,500.00. Following the completion of the acquisition, the director directly owned 23,000 shares in the company, valued at $494,500. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 74.26% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Neptune Insurance in the 3rd quarter valued at approximately $792,000. Maltese Capital Management LLC acquired a new stake in Neptune Insurance in the 3rd quarter valued at $3,200,000. FNY Investment Advisers LLC bought a new stake in Neptune Insurance in the third quarter valued at $171,000. Massachusetts Financial Services Co. MA acquired a new position in Neptune Insurance during the fourth quarter worth $759,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Neptune Insurance during the fourth quarter valued at $2,068,000.

Neptune Insurance Company Profile

Our mission is to create a smarter, more resilient insurance platform powered by AI, data science, and technology, enabling insurers to deploy capacity with confidence and delivering instant access to coverage for policyholders and agents. Neptune is a leading, high-growth, highly profitable, data-driven managing general agent that is revolutionizing the way homeowners and businesses protect against the growing risks of flooding. We offer a range of easy-to-purchase residential and commercial insurance products — including primary flood insurance, excess flood insurance, and parametric earthquake insurance — distributed through a nationwide network of agencies.